Another Rs 9 crore fraud at Mumbai PNB branch involved in Nirav Modi case
Punjab National Bank (PNB) detected another fraud at the same Mumbai branch that is at the centre of the Nirav Modi scam, a complaint with the police said.
The new alleged fraud of around Rs 9 crore involves officials of a not-so-famous company called Chandri Paper and Allied Products Pvt Ltd, the Central Bureau of Investigation said in the complaint posted on its website.
A PNB spokesman had no immediate comment. Chandri Paper could not immediately be reached for comment, said a Reuters report.
Nirav Modi was booked by the CBI on February 5 in connection with the cheating case that involved transactions of Rs 280 crore. Punjab National Bank then reported that it had detected fraudulent transactions worth around Rs 10,000 crore.
The CBI received two complaints from PNB against Nirav Modi, however, it is unclear if the complaints were linked to the banks revelation that it had detected USD 1.8 billion (over Rs 10,000 crore) fraud.
The Forbes described Nirav Modi as one of the youngest billionaires of India. He is the founder of USD 2.3 billion Firestar Diamond and has business spread across three continents from China in Asia to Hawaii Islands in North America.
He made it to the Forbes' list of billionaires in 2013 and has remained in the exclusive group ever since. In the Forbes' list of billionaires for 2016, Nirav Modi was ranked 1,067 in the world and 46 in India. He was ranked 1,054 globally and 82 in India a year ago. Nirav Modi was born in a family of diamond merchants.
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